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Ssangyong reported to be take-over target

South Korean media suggest that shareholders in 4x4 manufacturer Ssangyong, which recently established a UK dealer network for its Rexton model, are keen to sell a 55% controlling share in the firm.

Ssangyong is Korea's fourth largest vehicle manufacturer, and was separated from Daewoo following the firm's collapse in 1999, and not absorbed with the GM Daewoo organisation.

The South Korean news agency Yonhap suggests that Renault, which already owns the Korean Renault Samsung, could be one of up to eight potential bidders invited to tender before 11 December.

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